Mining Mayhem
Whats up everyone,
I have really been diving into the possibility of mining cryptos recently, but it is becoming more and more of a witch hunt for the perfect mining machine to match what I'm trying to make profit wise. With the release of many new and powerful miners out there, it is exciting to type into the mining calculators and see what I could be making if I had the miner in my hands, but the problem is that once these new miners ship, the hash rate goes up so quickly they are only effective for a brief period of time. For example, the new and upcoming release from Bitmain is the Antminer D3. This is a Dash mining rig that is capable of mining 15Gh/s on the X11 ledger and its for the low price of $2,699.00.
Incredible! right? ... Well lets see what that would yeild now
Holy Cow... almost $60,000 USD in the first year... absolutely incredible!
But wait, now we have to account for the unfortunate fact that the total hash of Dash is now way higher because of these new machines. Since the September batch has been sold, more batches of these guys are getting made and will soon be sold out as well.
So is it worth it? Well if you ask me? Quite possibly, but only if you are willing to risk more that the trading market. Lets assume the hash difficulty doubles once a week for the first couple months. That means your ROI is somewhere within the first couple of weeks. Great! right? well, as more and more of these miners are being used, the less and less your profitability will be. You have to ask yourself alot of questions. Will this be worth it for other X11 coins? Will the hash level out or will these bad larry's keep selling like crazy.
What if something like what happened last month happens where IOTA went from $0.20 USD to $1.05 USD and your $2,700 investment turns into $14,000 in a week. Thats alot of crypto right there.
Bottom line, in my opinion, If you want to risk even more with a possibly sweet reward, look into mining rigs. If you want to know that your money will not be lost because popular crypto's do not have a foreseeable death, invest in those.
The good news is, either way, your making money
Cheers
Please upvote, follow again!
Be careful on your purchase. Many of these mining rigs are sold by scammers. Go to eBay and find out they are actually selling for $8,000+ in many cases.
You will read horror stories of people trying to buy ANT miners and experiencing long shipping delays, only to finally receive their miner when the difficulty is raised rendering profits mute.
I am mining Zclassic right now on a 6GPU miner (homemade) and it's making about $500 a month currently with some lower end cards.. so for sure there is opportunity, just be careful... that's all I'm saying.
Sorry to post on such an old thread. Interesting though.. just popped this into the latest dash calculator and the D3 Antminer is no longer very profitable. This stuff moves so fast!
It’s true! I decided not to buy one, and I think it was the right choice. I may build a home kit if I can gather some extra cash